Toddsterpatriot
Diamond Member
Stockholders, executive compensation, stock buybacksWhy?Those of us living in reality can now say that the corporate tax cuts were a failure that hurt revenue and did nothing for the economy. So the question is why? I think it likely has to do with the fact so many of our corporations are near monopolies. Curious what others think.
Trump handed big business a massive tax cut, and all he got in return was embarrassment
Two years after his administration passed a massive tax cut for corporations meant to spur economic growth, the verdict is in, and the results are embarrassing. The tax cuts did not "unleash animal spirits" (as the business media is so fond of saying). And it did not usher in a period of 3% GDP growth(as Trump's administration was so fond of echoing).
The plan did not — by any stretch of the imagination — "pay for itself with growth and reduced deductions," as Treasury Secretary Steve Mnuchin said it would back in 2017. In fact, the US budget deficit has grown by 50% since Trump took office.
Because they just keep the money
Kept it where?
The money did not go towards creating new jobs, expansion or pay increases
Stockholders, executive compensation, stock buybacks
So the companies didn't keep the money.
They paid shareholders and they paid executives.
The money did not go towards creating new jobs, expansion or pay increases
Looks like it did.